TotalEnergies Reports 31% Decrease in Net Adjusted Income for Q4
Net Adjusted Income Falls for TotalEnergies in Q4
TotalEnergies, a leading oil and gas company, announced a 31% decrease in net adjusted income for the fourth quarter of 2023. The company reported a net adjusted income of $5.2 billion, attributing the decline to lower oil prices and refining margins compared to the same period in the previous year.
Adjusted EBITDA and Production Decline
The company also recorded a 27% decrease in adjusted EBITDA, amounting to $11.7 billion for the October-December period in 2023. Additionally, TotalEnergies reported a 12% decrease in production, with 2.483 million barrels per day during the fourth quarter of 2023 compared to the same period in 2022.
Full-Year Adjusted Net Income and Dividend Proposal
For the full year of 2023, the company’s adjusted net income reached $23.2 billion, reflecting a 36% decrease from the previous year. TotalEnergies proposed a dividend of 3.01 euros per share for 2023, marking a 7.1% increase compared to the previous year.
Outlook for 2024
TotalEnergies anticipates net investments of $17 billion to $18 billion for 2024, with a specific allocation of $5 billion to its integrated power section.
